vMobo raises $700k for Text message marketing

Printer Print Email Email
Fremont: vMobo, provider of text message based marketing service provider, raises funding of around $700,000 for its 'interactive direct marketing' application, according to the filing with the SEC. vMobo currently offers its services in India and UAE and plans to expand it to Indonesian market in near future. Last year company has launched service called 'GetInfo' in UAE that is an easy to use SMS based service. SMS usage of India has grown significantly particularly in urban areas in past few years. According to TRAI (Telecom Regulatory of India), an average Indian sends 20 messages in a month. It's not only limited to personal communication but users check their bank accounts, book tickets, pay bills and many more. A large number of people opt for SMS based value added services. The most popular value added services include business/finance news, stock market tips, astrological advice, spiritual quotes, news alerts, job alerts, and sports updates. Nearly 30 percent of urban Indians have participated in some kind of SMS based contest.